Hot Property for April

BPS has been super busy. We have multiple clients and are seeing lots of different properties. The following are just a few of the interesting things I have seen on my travels. Remember, these are not the best of the best. Those I keep for my paying clients only. If you want to see the best of the best, email BPS for a client agreement.

Mullumbimby duplex

There is a good Queenslander put on a half block in a quite lane in the heart of Mullumbimby. The owner has done a good job with the finish and the fit out. It consists of two seperate 2 bed 1 bath cottages (with an adjoining wall) on one title and has an inner city, studio/loft feel. Would suit a LAT couple (Living Apart Together) who each wanted an office, a seperated couple with one child who could float between, or someone who wanted their investment rental close by. Going to auction and looking for $700K and up.

Vacant land in Byron Bay

You do not see a lot of vacant blocks in the Byron CBD lately. Currently there are three and all from subdivided 1000 M2 blocks. They range between $950,000 – $1.2M for the 500 m2, but will sell in time and good for someone wanting to build close to everything – beach and town. Some people would question why so much for 500 m2 of dirt in a rural coastal town but there you go….

Byron Rental

An interesting 60’s era house in Byron has been converted into five seperate rentals. Most of it has council approval and is yeilding $1100 per week. The property is going to auction at the end of the month and is hoping for $1M. Some people would think this as “exploitative landlord behaviour” but I support anything that will help solve Byron’s dire rental predicament. There are also another two houses in Byron that I believe are good value at under $1M in fairly good locations and would suit someone looking for value adding.

Bangalow Rental

Just to follow the rental theme, Bangalow also has a listed 3 bedroom house that has the potential of an extra two rental options. Would suit someone handy who can make the most of the existing space and also build a garage studio from the second street access. Looking for mid 600s.

Massinger Street, Byron Bay

This hard to beat location with an ordinary 80s house went to auction last weekend. This part of Byron is sought after and will always remain blue chip. The property was passed in at the recent auction looking for over $3M but will now be looking for high or mid $2Ms.

Small acreages

This shire has a high demand for small rural acreages but has absolutely no supply. The Rural Land Use Strategy is currently in public display at council and people with any input should go and make a submission. This is a vexed question as all of us want to keep the green, rural vistas we presently have but how do we meet even a small portion of the demand while saying no to green-field subdivision (brick and tile suburbs). Not doing anything just means small land holdings will keep overblowing and that is becoming ridiculous. I am a supporter of Multiple Occupancy and Community Title which are both still part of the Byron Shire strategy (many other rural shires have dropped this option). It allows low-impact subdivision on suitable degraded large blocks while maintaining rural, agricultural land and outlook. There are a small number of Community Title DA’s in process at the moment (under the existing LEP) which will be coming online later in the year. Call Michael if you want to learn more – and he will explain the acronyms as well.